In a surprising turn of events, Vedanta Ltd., a well-known company, saw its shares go up by 0.89%, even though the Nifty index was going down. Now, let's dive in and understand why this happened and what it signifies.
Shares Hold Strong
Despite the overall market going down, Vedanta's shares managed to stay strong. On Tuesday, their value went up by 0.89%, reaching Rs 240.0. During the day, they went up to Rs 240.05 and went down to Rs 237.25.
Highs and Lows
When we look at the highest and lowest prices for Vedanta's shares in the past 52 weeks, it gets interesting. The highest price was Rs 340.75, and the lowest was Rs 237.25. That's quite a range!
Trading Volume and Value
Around 10:00 AM (IST), people traded 289,284 shares of Vedanta, which adds up to Rs 689.0 crore. This tells us that lots of people were interested in buying and selling Vedanta's shares.
Doing Better Than Expected
Vedanta's shares did something unexpected, especially when compared to the rest of the market. Despite things not looking great overall, Vedanta managed to go up, which is a good sign. In the previous trading session, the shares closed at Rs 237.9, so they definitely went up this time.
Numbers to Know
Some numbers help us understand Vedanta's situation. The price-to-earnings (P/E) ratio is 10.23, which shows people are ready to pay more for each rupee of earnings because they think Vedanta will grow. The price-to-book ratio is 2.59, which means people value Vedanta's company even if it doesn't grow.
Who Owns Vedanta?
Promoters own 0.0% of Vedanta, and Foreign Institutional Investors (FII) and Mutual Funds (MF) own 7.48% and 0.25%, respectively. This tells us who has a stake in the company.
Financial Snapshot
Let's look at Vedanta's money situation. In the quarter ending on June 30, 2023, Vedanta made Rs 34,279.0 crore. This is less than the previous quarter's Rs 38,635.0 crore and also less than the same quarter last year, which was Rs 39,355.0 crore. Their profit for this quarter was Rs 2,640.0 crore, which is less than the profit from the same time last year.
So, Vedanta's shares going up by 0.89% while the Nifty was falling is quite interesting. It shows that Vedanta is doing something right, even when things aren't great in the whole market."